2-November-2024-Daily-Current-Affairs

THE NILGIRIS AS A SHARED WILDERNESS

TOPIC: (GS3) ENVIRONMENT: THE HINDU

The Nilgiri Biosphere, India’s first UNESCO-recognized biosphere reserve, spans over 5,500 square kilometres across Tamil Nadu, Kerala, and Karnataka. It is home to rare and endemic flora and fauna, including the Nilgiri tahr, the star-eyed bush frog, and medicinal plants used by indigenous communities. Over the years, human activity has increased, bringing both economic opportunities and environmental challenges

Significance of the Nilgiri Biosphere

• Biodiversity Hotspot: The Nilgiris contain unique flora and fauna, such as the Nilgiri Chilappan bird and Baeolepis nervosa, a medicinal plant crucial to local tribal traditions.
• Geographic Diversity: The region ranges from the peaks of Doddabetta to the Moyar gorge, featuring varied ecosystems that support rich biodiversity.
• Cultural Heritage: Indigenous communities, particularly the Todas, have lived in harmony with this ecosystem for centuries, holding valuable ecological knowledge.

Rising Human Impact

• Economic Development: Tourism and agriculture have expanded, boosting the local economy but leading to increased waste and pollution.
  • Tourism Pressures: The popularity of Nilgiri hill stations has led to higher visitor numbers, resulting in waste and traffic challenges.
  • Agricultural Changes: Farmers now use more chemical fertilizers and pesticides, polluting water sources and affecting soil quality.
• Invasive Species: The spread of invasive species like Lantana camara and pine trees threatens native vegetation and disrupts the ecosystem.

Community and Government Initiatives

• Local Efforts: Community-led initiatives, such as Clean Coonoor, promote sustainability through waste management, while the Keystone Foundation supports indigenous and climate-resilient practices.
• State Interventions: The Tamil Nadu government has set goals to make the Nilgiris carbon-neutral, ban plastic, protect species like the Nilgiri tahr, and manage invasive plants to restore native habitats.
• Sustainable Tourism: By focusing on low-impact tourism, the government aims to balance economic gains with environmental preservation.

Wildlife Conservation Success and Challenges

• Increasing Wildlife: The success of conservation has resulted in more animals roaming outside protected areas, adapting to human presence and altered habitats.
  • Human-Wildlife Coexistence: Animals like leopards, Indian gaurs, and wild pigs are frequently sighted in plantations and nearby areas.
  • Human-Wildlife Conflicts: Although locals have adjusted, conflicts occasionally arise due to crop damage and safety risks.
• Technological Solutions: NGOs like WWF and the Nature Conservation Foundation use mobile alerts, GPS, and cameras to track wildlife, reducing dangerous encounters and deterring poaching.

The Need for Collective Responsibility

• Shared Conservation Duty: To sustain the Nilgiri Biosphere, responsibility must extend beyond government agencies. Society (samaaj), businesses (bazaar), and the state (sarkaar) need to collaborate.
  • Community Engagement: Citizen participation through initiatives like citizen science helps document and protect local biodiversity.
  • Economic Incentives: Encouraging tourism and eco-friendly practices creates financial motives to preserve wildlife and natural areas.
• Challenges in Perception: Locals often feel that wildlife protection is solely the government’s duty, leading to frustration, particularly among farmers facing crop losses due to wildlife.
• Alternative Approaches: Instead of restrictive boundaries, trust networks and advanced technology (satellites, sensors, AI) can improve conservation efforts.

Storytelling as a Conservation Tool

• Inspiring Protection Through Stories: For conservation efforts to succeed, people need a personal connection to nature, developed through storytelling and shared experiences.
  • The Role of Storytelling: Experiences documented by conservationists help create an emotional connection, fostering public support for preservation.
  • Digital Tools: Modern technologies, like cameras and social media, allow people to share and raise awareness of conservation needs, inspiring a culture of protection.

Conclusion

Conserving the Nilgiri Biosphere requires a combined effort from communities, businesses, and the government. Storytelling, sustainable practices, and technological interventions are crucial in protecting this unique ecological region. With shared responsibility and a deeper connection to nature, the Nilgiris can continue to thrive for generations.

With reference to the Nilgiri Biosphere Reserve, consider the following statements:

1. It was the first biosphere reserve established in India.
2. It includes protected areas such as the Mudumalai Wildlife Sanctuary and Silent Valley National Park.
3. The entire area of the Nilgiri Biosphere Reserve falls within the state of Tamil Nadu.

Which of the statements given above is/are correct?

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2, and 3

Answer: (a) 1 and 2 only

Explanation:

The Nilgiri Biosphere Reserve, established in 1986, was the first biosphere reserve in India.

The reserve includes several protected areas, including the Mudumalai Wildlife Sanctuary and Silent Valley National Park.

The Nilgiri Biosphere Reserve spans across three states: Tamil Nadu, Karnataka, and Kerala.

ZEROING IN ON METHANE DIPLOMACY, AT COP29

TOPIC: (GS3) ENVIRONMENT: THE HINDU

The 29th Conference of Parties (COP29) to the United Nations Framework Convention on Climate Change (UNFCCC) is set to take place in Baku, Azerbaijan, from November 11 to 22, 2024. Known as the “Finance COP,” this meeting is especially significant as it will establish a new global climate finance target, referred to as the “New Collective Quantified Goal” (NCQG).

Methane: A Key Climate Challenge

• High Impact on Global Warming: Methane is responsible for approximately 30% of global warming since the pre-industrial era. It is a potent greenhouse gas, with a warming potential 28 times that of CO₂ over 100 years, and 84 times more intense on a 20-year scale.
• Rapid Concentration Rise: Methane levels in the atmosphere are increasing swiftly, making its mitigation a priority to slow down short-term global warming.
• Near-term Emissions Reduction: Since methane dissipates faster than CO₂, cutting it can have a quick impact on limiting temperature rises. This helps buy time for long-term CO₂ reduction efforts essential for climate stabilization.

U.S.-China Cooperation on Methane

• Common Ground on Non-CO₂ Emissions: Despite political differences, the United States and China have aligned on controlling non-CO₂ greenhouse gases, like methane. At COP28 in Dubai in 2023, both countries, along with the UAE, hosted a summit on methane emissions.
• China’s National Plan for Methane: In November 2023, China released its first national framework to address methane. Though it lacks specific targets, the plan signals China’s willingness to tackle methane and collaborate with the U.S.
• Opportunity for India: As the world’s third-largest source of human-caused methane, India can benefit from this partnership by seeking support in financing and capacity-building for methane control, particularly in sectors like agriculture and waste management.

India’s Methane Emissions Profile

• Sectoral Contribution: India’s methane emissions amounted to 409 million tons of CO₂-equivalent in 2016, largely driven by agriculture (74%), waste (14%), and energy (11%).
• Agriculture Dominance: Livestock and rice cultivation are the primary sources of methane emissions, making it challenging for India to adopt a national methane reduction target. The agricultural sector is sensitive due to its impact on food security and livelihoods.
• Challenges in the Waste Sector: Waste sites in India are also substantial methane emitters. For example, fires at dumpsites, like the Bhalswa landfill in Delhi in 2022, led to elevated levels of particulate matter, impacting nearby air quality.

India’s Approach to Methane Reduction

Waste Management Initiatives

• Regulatory Framework: India has implemented regulations for waste management, but local authorities often struggle with capacity limitations for effective enforcement.
• Innovative Models: The city of Indore has pioneered organic waste sorting and a biomethane plant that powers city buses, setting an example of sustainable waste management.
• Gobardhan Scheme: This program promotes the use of cattle waste for clean energy, particularly in rural areas, aligning with the Swachh Bharat Mission-Urban 2.0 for improved waste management.

Agricultural Sector Efforts

• National Mission for Sustainable Agriculture (NMSA): Through the NMSA, India is encouraging climate-friendly agricultural practices to reduce methane emissions, such as improved techniques in rice cultivation.
• National Livestock Mission: This mission promotes practices like green fodder production and improved livestock feed management, aiming to reduce methane emissions from the livestock sector.

Potential Gains from COP29 for India

• Leveraging U.S.-China Partnership: India can utilize the U.S.-China collaboration on methane to seek international support, particularly for the waste sector, where methane emissions are significant but underreported.
• Satellite Data Insights: Recent satellite studies over Delhi and Mumbai suggest that methane emissions may be much higher than previous estimates, especially from dumpsites, highlighting the need for accurate data and enhanced mitigation measures.
• Finance and Technical Support: COP29 offers India an avenue to advocate for funding, technical know-how, and capacity-building support for scaling up methane reduction efforts in waste and agriculture.

Roadblocks and India’s Strategy Moving Forward

• Agriculture-Related Hesitance: Due to the heavy reliance on agriculture for methane emissions, India remains cautious about committing to the Global Methane Pledge, which aims to cut methane by 30% from 2020 levels by 2030.
• Targeted, Sectoral Assistance: Rather than economy-wide commitments, India could focus on sector-specific assistance, particularly in waste management, where it has a robust policy foundation but lacks sufficient resources for full implementation.
• Improving Data and Monitoring: Enhanced data quality and emission monitoring, especially in urban areas, can significantly support India’s climate goals and help direct resources efficiently.

Conclusion

For India, reducing methane emissions is a key opportunity to address immediate climate challenges and strengthen its global climate role. By capitalizing on partnerships and seeking targeted support in areas like waste management, India can make substantial progress in its methane reduction efforts.

With reference to the United Nations Framework Convention on Climate Change (UNFCCC), consider the following statements:

1. The UNFCCC was established during the Earth Summit held in Rio de Janeiro in 1992.
2. The main objective of the UNFCCC is to stabilize greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous human interference with the climate system.
3. All countries that are parties to the UNFCCC have legally binding targets for reducing their greenhouse gas emissions.

Which of the statements given above is/are correct?

(a) 1 and 2 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2, and 3

Answer: (a) 1 and 2 only

Explanation:

The UNFCCC was indeed established at the Earth Summit in Rio de Janeiro in 1992.

The primary goal of the UNFCCC is to stabilize greenhouse gas concentrations to prevent dangerous human interference with the climate system.

The UNFCCC does not impose legally binding emission reduction targets on all parties. Legally binding targets are set under agreements such as the Kyoto Protocol and the Paris Agreement, but not all countries have binding commitments.Bottom of Form

99 CITIES RECORDED ‘POOR’ AIR QUALITY A DAY AFTER DEEPAVALI

TOPIC: (GS3) ENVIRONMENT: THE HINDU

Air quality in India’s cities worsened significantly around Deepavali due to the burning of firecrackers, with several northern cities showing high Air Quality Index (AQI) levels. This situation underlines the need for strict pollution controls, especially during peak festival seasons.

Current AQI Status in Indian Cities

• Recent data from the Central Pollution Control Board (CPCB) shows that 99 out of 265 cities reported “poor” air quality with AQI values over 200.
• Thirteen cities, including Delhi, Gurugram, and Ghaziabad, recorded AQI levels above 300, indicating “very poor” air quality.
• Ambala in Haryana had the highest AQI at 367, followed closely by Amritsar (350) and Delhi (339).

Impact of Firecrackers Despite Ban

• Firecrackers were widely used despite a ban in several places, including Delhi, adding to the pollution levels.
• AQI levels worsened significantly post-Deepavali celebrations. On Thursday, six cities had “very poor” AQI, while 43 had “poor” AQI. By Friday, these numbers surged due to increased firecracker use.

Winter Pollution Factors in Northern India

• Northern cities like Delhi experience high pollution during winter due to various factors, including:
  • Emissions from vehicles and industries.
  • Stubble burning in nearby states after the paddy harvest season.
  • Construction activities and waste burning.
• Winter’s cold air traps pollutants, and unfavourable wind patterns prevent the dispersal of particulate matter, leading to higher AQI levels.

Rising PM2.5 Levels

• On Friday, Delhi’s Anand Vihar recorded its 10th highest PM2.5 concentration for 2024 at 273.04 µg/m³. Most of the year’s highest readings were during January’s peak winter period.

Air Quality Index (AQI):

AQI Definition and Purpose:
The AQI is a numerical scale used to communicate how polluted the air is or is forecast to become. It provides information on the level of pollutants in the air and the associated health risks to the public.

AQI Scale and Categories:
AQI values are typically categorized as Good (0-50), Satisfactory (51-100), Moderate (101-200), Poor (201-300), Very Poor (301-400), and Severe (401-500). Each category represents a different level of health concern, with “Good” being the least and “Severe” the most hazardous.

Primary Pollutants Measured:
The AQI measures the concentration of major air pollutants such as particulate matter (PM2.5 and PM10), sulfur dioxide (SO₂), nitrogen dioxide (NO₂), ozone (O₃), carbon monoxide (CO), and ammonia (NH₃). The highest pollutant value among these usually determines the overall AQI score.

Conclusion
The spike in air pollution around Deepavali highlights the urgent need for enforcing pollution control measures and promoting eco-friendly practices during festivals. Strict regulation of firecrackers, alongside efforts to address winter-specific pollution sources, is essential to protect air quality and public health in northern India.

Which of the following statements about the Air Quality Index (AQI) is/are correct?

1. The AQI is a numerical scale that indicates the level of air pollution and its potential health effects on the population.
2. An AQI value of 300 or above is classified as ‘Very Poor,’ indicating significant health risks for sensitive groups.
3. The AQI only considers particulate matter (PM2.5) for its calculations.

Select the correct answer using the code below:

A)1 and 2 only
B) 2 and 3 only
C) 1 and 3 only
D) 1, 2, and 3

correct answer:(A) 1 and 2 only.

the AQI indicates air pollution levels and health effects.

an AQI of 300 or above is indeed classified as ‘Very Poor.’

the AQI is calculated based on multiple pollutants, including PM2.5, PM10, carbon monoxide (CO), sulfur dioxide (SO₂), and nitrogen dioxide (NO₂).

BIBEK DEBROY, PM’S ECONOMIC ADVISORY COUNCIL CHAIRMAN, NO MORE

TOPIC: (GS2) POLITY: THE HINDU

Bibek Debroy, a prominent economist and chairman of the Prime Minister’s Economic Advisory Council, passed away at 69, leaving a significant impact on India’s intellectual and economic landscape. He was widely recognized for his contributions to public policy and for translating ancient Sanskrit texts, including epics like the Bhagavad Gita and the Mahabharata.

About EAC-PM

• Nature and Purpose:
  The Economic Advisory Council to the Prime Minister (EAC-PM) is an independent, non-constitutional, and non-statutory body established to provide advice to the Government of India, primarily focusing on economic and related matters.
• Objective:
  The council aims to present critical economic issues to the government from a neutral perspective, ensuring that policymaking is informed by expert analysis and research.
• Advisory Role:
  The EAC-PM advises the Prime Minister on various economic concerns, including inflation, industrial performance, and microfinance, contributing to informed decision-making at the highest level.
• Nodal Agency:
  The NITI Aayog serves as the nodal agency for the EAC-PM, assisting with administrative, logistical, planning, and budgeting needs to facilitate the council’s operations.

Terms of Reference of EAC-PM

• Advisory Functions:
  The council analyses economic issues referred by the Prime Minister and provides recommendations. This includes both issues brought to it by the Prime Minister and those it identifies independently (suo-motu).
• Macroeconomic Focus:
  The EAC-PM addresses matter of macroeconomic significance, offering insights and assessments to the Prime Minister to aid in policy formulation.
• Additional Tasks:
  The council is also responsible for undertaking any other assignments that the Prime Minister may request, showcasing its flexible and responsive nature.

Periodic Reports

• Annual Economic Outlook:
  The EAC-PM publishes an annual report providing forecasts and assessments of the economic landscape, aiding in strategic planning and policy formulation.
• Review of the Economy:
  This report evaluates the current economic conditions, analysing performance indicators and trends to inform government actions and interventions.

Conclusion

The EAC-PM plays a crucial role in shaping India’s economic policy by providing expert advice, facilitating informed decision-making, and addressing macroeconomic challenges through periodic assessments and recommendations.

MANGROVE FORESTS IN MITIGATING CYCLONE

TOPIC: (GS3) ENVIRONMENT: INDIAN EXPRESS

Cyclone Dana recently made landfall near Bhitarkanika National Park and Dhamra Port in Odisha, highlighting the critical role of mangrove forests in mitigating cyclone impacts.

• The damage from Cyclone Dana was less severe than expected, thanks to the dense mangrove cover in Bhitarkanika, which has protected the area during previous cyclones.

What are Mangroves?

• Definition: Mangroves are salt-tolerant trees and shrubs found in estuarine and intertidal regions where freshwater meets saltwater.
• Adaptations: They have unique features like aerial roots and waxy leaves, enabling them to thrive in saline conditions.
• Ecosystem: They form a littoral forest ecosystem, crucial for coastal health.

Mangrove Cover in India

• Extent: Mangrove cover in India is approximately 4,992 sq. km, making up 0.15% of the total geographical area.
• Key States: Significant mangrove ecosystems are found in Odisha, Andhra Pradesh, Gujarat, Kerala, and the Andaman Islands.
• Sundarbans: The Sundarbans is the largest mangrove forest globally, with Bhitarkanika being the second-largest in India.

Role of Mangroves in Cyclone Mitigation

• Coastal Defence: Mangroves stabilize shorelines and act as natural barriers, reducing erosion and protecting coastal communities.
• Storm Surge Protection: They minimize cyclone-driven storm surges, reducing flooding and damage to coastal areas.
• Infrastructure Integration: Combining mangroves with built infrastructure can enhance their effectiveness in storm protection.

Initiatives for Mangrove Protection

• MISHTI Initiative: Announced in the Union Budget 2023-24 for mangrove plantations along coastlines.
• Mangrove Alliance for Climate (MAC): An international coalition focused on raising awareness about the role of mangroves in combating climate change.
• Blue Carbon Initiative: Aims to conserve and restore coastal and marine ecosystems to mitigate climate change.

Challenges to Mangrove Conservation

• Commercialization: Development activities like aquaculture and industrialization are encroaching on mangrove areas.
• Temperature Sensitivity: Mangroves are vulnerable to temperature fluctuations that can damage or kill them.
• Soil Conditions: Mangrove growth is hindered by low oxygen levels in their soil.
• Pollution: Agricultural runoff and industrial waste contaminate mangrove habitats.
• Lack of Integrated Management: Conservation efforts often neglect the interconnectedness of mangroves with nearby ecosystems like coral reefs.

Bhitarkanika National Park

• Area: Covers 672 sq. km in Odisha, characterized by a network of creeks and canals.
• Biodiversity: Home to saltwater crocodiles and the largest colony of Olive Ridley sea turtles at Gahirmatha Beach.

Actions for Mangrove Preservation

• Bio-restoration: Utilize Assisted Natural Regeneration (ANR) to restore degraded mangrove areas while preserving biodiversity.
• Policy Development: Implement policies for conservation and sustainable management of mangrove forests.
• Community Engagement: Involve local communities in conservation efforts to promote ownership and sustainability.
• Education: Raise awareness about the importance of mangroves to encourage community-driven initiatives.

Conclusion

Enhancing mangrove conservation is essential for increasing India’s resilience to cyclones and protecting coastal communities. Integrating ecological and infrastructural strategies will be crucial for long-term sustainability and disaster risk reduction.

TRANSLOCATION OF A TIGRESS

TOPIC: (GS3) ENVIRONMENT: THE HINDU

The Odisha government has translocated a tigress named Jamuna from Tadoba Andhari Tiger Reserve in Maharashtra to Similipal Tiger Reserve (STR) in Odisha.

• This translocation aims to enhance genetic diversity in Similipal, addressing concerns about inbreeding due to its small tiger population.

Key Facts About this Translocation

• Previous Attempts: In 2018, a tigress named Sundari was relocated to Satkosia Tiger Reserve in Odisha.
• Approval Process: The translocation project received approval from the National Tiger Conservation Authority (NTCA).
• Black Tigers:
  • The 2024 Odisha Tiger Estimation found 24 adult tigers in Similipal, with a notable presence of pseudo-melanistic (black) tigers.
  • Similipal is the only habitat where these black tigers are found in the wild.
• Inbreeding Concerns:
  • Out of 24 adult tigers, 13 are pseudo-melanistic, raising concerns about inbreeding and the need for genetic diversity.
• Future Plans: There are plans to establish a melanistic tiger safari in Similipal, the first of its kind in the world.
• Genetic Trait: Pseudo-melanistic tigers have a unique phenotype caused by a genetic trait, resulting in wide and merged stripes.

Key Facts About Similipal Tiger Reserve

• Location: Similipal Tiger Reserve and National Park is situated in the Mayurbhanj district of Odisha.
• Project Tiger Designation: It was established as a tiger reserve in 1973 under Project Tiger.
• UNESCO Biosphere Reserve: Similipal National Park was designated as a Biosphere Reserve by UNESCO in 2009.
• Geography: The reserve features Joranda and Barehipani waterfalls, Khairiburu and Meghashini peaks, and several rivers including Burhabalanga and Palpala Bandan.
• Name Origin: It is named after the ‘Simul’ (Silk Cotton) tree.
• Biodiversity:
  • Forest Type: Dominated by tropical moist deciduous forests.
  • Mammals: Home to tigers, leopards, sambar deer, barking deer, gaurs, jungle cats, wild boars, four-horned antelopes, giant squirrels, and common langurs.
  • Bird Species: Grey hornbills, Indian pied hornbills, and Malabar pied hornbills can be found here.
  • Reptiles: Mugger crocodiles inhabit the Khairi and Deo Rivers.
• Indigenous Population: The reserve is home to tribes such as Kolha, Santhala, Bhumija, Bhatudi, Gondas, Khadia, Mankadia, and Sahara, who worship sacred groves known as Jharia.

Key Facts About Tadoba Andhari Tiger Reserve

• Location: Situated in Maharashtra, it is the oldest and largest national park in the state.
• Local Deity: Tadoba (Taru) is the local deity revered by the tribal communities in the area.
• Geography: The reserve includes two main lakes: Tadoba Lake and Kolsa Lake, along with the Tadoba River.
• Biodiversity:
  • Flora: The park is rich in vegetation including teak, semal, tendu, beheda, karaya gum, mahua, arjun, and bamboo.
  • Fauna: It is home to tigers, Indian leopards, sloth bears, gaurs, nilgai, dholes, small Indian civets, sambars, spotted deer, barking deer, and chital.

SUPREME COURT RULING ON DISABILITY AND EDUCATION

TOPIC: (GS2) POLITY: THE HINDU

The Supreme Court has ruled that educational opportunities should not be denied solely based on disability criteria, emphasizing the need for fair, individual assessments. This landmark judgment supports inclusive policies aligned with the Rights of Persons with Disabilities Act, 2016.

• Ruling Summary: The Supreme Court has ruled that individuals should not be denied educational opportunities based on rigid disability criteria.
• Assessment Directive: Disability assessment boards are required to evaluate if an individual’s impairment genuinely affects their ability to successfully complete a course.
• Background: This ruling addresses challenges to the Graduate Medical Education Regulation of 1997, which previously barred individuals with 40% or more disability from MBBS courses.
• Eligibility Clarification: The Court stated that having a benchmark disability of 40% or above does not automatically disqualify a candidate from the course they applied for.

Importance of Individual Assessments

• Inclusive Policies: The ruling emphasizes the need for individual assessments and advocates for inclusive educational policies as per the Rights of Persons with Disabilities Act, 2016 (RPwD Act).

Rights of Persons with Disabilities Act, 2016

• UN Convention Alignment: The RPwD Act aligns with UN conventions on disability rights, promoting and protecting the rights of persons with disabilities.
• Implementation Oversight: The Department of Empowerment of Persons with Disabilities (DEPwD) is responsible for overseeing the implementation of the RPwD Act.

Role of Disability Assessment Board (DAB)

• Purpose of DAB: The Disability Assessment Board is tasked with evaluating and certifying the extent of disability in individuals.
• New Assessment Requirements: Following the Supreme Court ruling, DABs must clearly state whether a candidate’s disability will hinder their ability to pursue the chosen course, providing reasons if they believe it will.

CONCLUSION:

This Supreme Court ruling strengthens the commitment to inclusive education, ensuring that individuals with disabilities are assessed on their true potential and not limited by rigid criteria. It is a step forward in upholding the rights and dignity of persons with disabilities, fostering a more equitable and inclusive society.

MULE ACCOUNTS

TOPIC: (GS3) ECONOMY: THE HINDU

The Union Ministry of Home Affairs recently raised concerns over illegal payment gateways like PeacePay and RTX Pay, which are used by transnational cybercriminals for money laundering. These platforms exploit mule accounts and shell companies, posing a significant threat to financial security.

Recent Alert by Ministry of Home Affairs

• The Union Ministry of Home Affairs recently issued an alert regarding illegal payment gateways, such as PeacePay and RTX Pay, which are being used by transnational cybercriminals.
• These payment platforms are suspected of facilitating money laundering activities through mule bank accounts.

Key Terms and Concepts

• Mule Account: A bank account used to carry out illegal activities, often without the account holder’s knowledge.
• Money Mule: An individual who transfers illegally obtained money on behalf of another person or group, usually for a small fee or under false pretenses.

Techniques Used by Cybercriminals

• Transnational Cybercriminals: Use the bank accounts of shell companies and individuals as mule accounts to launder money across borders.
• Shell Companies: These are companies with no significant assets or business operations; while not always illegal, they are often exploited to hide ownership or obscure financial activities.

Banking Feature Exploited

• Bulk Payout Facility: This bank service allows businesses to make large numbers of payments to various recipients in one transaction, which criminals exploit to mask illegal fund transfers.

This alert emphasizes the need for vigilance and stronger monitoring to prevent misuse of financial systems by cybercriminals.